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How would you need crypto exchanges to be regulated?

Primarily based on my restricted data on crypto, I don’t assume you’ll be able to regulate crypto exchanges with out regulating crypto itself proper? I can consider two foremost causes and possibly extra?

1) crypto is very risky and pitted in opposition to steady USD. If consumer buys 2 million {dollars} price of bitcoins from alternate and bitcoin goes up in worth by 3x. Even when the alternate held all USD deposits, the utmost quantity the consumer can withdraw is 2 million {dollars} NOT the brand new worth of 6 thousands and thousands USD. That is assuming the market has a number of exchanges throughout the globe the place withdrawal price won’t influence the worth of the coin. In essence, for regulation to work, there have to be centralized entity that controls the pricing.

2) the way in which banks are regulated is that 99% of the financial transfers could be traced together with while you money out. However crypto is nameless. If a hacker achieve entry to wallets, you’ll by no means get that cash again. Not like banks, most transactions are traceable and effectively monitored. Most financial institution accounts are tied to social safety numbers. This prevents unhealthy actors and permit justice division to sue account holders.

My query is how do you envision crypto alternate regulation? And the way far ought to we go?

20 thoughts on “How would you need crypto exchanges to be regulated?”

  1. They can’t sell a coin they don’t have. If they think it’s a good product and can be sold later for profit they should have to invest in it. Buy when it’s low take the risk and sell off, or miss out. Currently they sell nothing and when prices crash, they extract what value they can. They place no bets, yet win either way. Changing this would reduce the shit coins as groups would be unwilling to drop 100m on them as a bet. Currently they can sell 100m of shit coin without actually needing to possess any. All reward, no risk. Walk away with the cash and hollow out the industry. Market makers should be required to do the same.

  2. 1. Customer assets and the exchange assets must be handled seperately
    2. No lending of customer deposits
    3. Exchange neutrality, they can’t own their trading funds or offer their own tokens
    4. Rules against fake trades
    5. Public quarterly financial disclosure to either the CFTC or SEC

  3. A quarterly third party audit of the user’s balance against the coins in the vault. Simple as that. Regulations ≠ government.

    Collateral should be in a separate portfolio, with a legal resource to prosecute the moment they move funds from the audited funds to their collateral assets.

    Kraken already does this (minus the second one)

  4. 1. Regulate them to be simple companies that can only make money on the spread of users trades since none of them can be trusted for anything else.
    2. All users coins and fiat held in verifiable non custodial wallets that can never be accessed without users consent
    3. No preference given to whale traders at the expense of smaller traders. All equal (good luck with that one!)


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